A Former Chinese Ride-Hailing App Founder Will Develop a Blockchain-Based ‘Uber’

The CEO of gaming app developer Funcity and former Chinese ride-hailing app Kuaidi Dache founder, Chen Weixing, will develop a blockchain-based ride-sharing system similar to Uber, reported Coindesk on May 28.

The ride-sharing system, which was announced at a post-event function after the 2018 Guiyang BigData Expo, will be created with the collaboration of the co-founder of the giant Chinese group discount apps Meituan, Yang Jun.

Weixing mentioned,

“Ride hailing is the first time blockchain will be tested on a social application on mass scale.”

However, he did not express which blockchain platform will be used to develop the app and how he is planning to deal with scalability concerns but it is notable considering his background in ride-sharing systems.

When he founded Kuaidi Dache in 2012, there was a big competition with a rival ride-hailing app called Didi Chuxing, which finally merged in 2014 to become the largest ride-hailing app in China. They later pushed Uber out of China.

It is not surprising to see Weixing moving into the blockchain space as he has invested in a minimum of a dozen crypto projects, including some of the major cryptocurrency exchange such as Binance and Huobi.